Amazon, Arlington, Puget Sound, Nashville, Metro

Amazon, Arlington

Amazon Commits $300 Million To Develop Affordable Housing In Three Cities

Amazon commits $300 million to develop affordable housing in 3 cities

6/18/2021 12:05:00 PM

Amazon commits $300 million to develop affordable housing in 3 cities

Transit-oriented development is a unique approach to preserving and creating affordable housing options.

It’s the latest round in Amazon’s Housing Equity Fund partnership in the greater Washington region. The support follows its investment of $381.9 million in below-market loans and grants to the Washington Housing Conservancy to preserve and create up to 1,300 affordable homes on the Crystal House property in Arlington, which Amazon announced in January.

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“Transit-oriented development has a proud legacy at Metro, and with this investment from Amazon we can continue to help the region tackle the challenges of housing affordability, congestion, and sustainability,” said Metro general manager and CEO Paul Wiedefeld. “Having a philanthropic partner in this effort, along with the support of the public and private sectors, puts the region on the best path possible to meeting our shared housing, transit, equity and economic prosperity goals.”

In Arlington, Virginia, Amazon is partnering with Washington Metropolitan Area Transit Authority to... [+]create 1,000 housing units on their surplus land.Courtesy of MetroIn Puget Sound, Amazon is partnering with Sound Transit and committing $100 million in below-market capital to expedite the creation of up to 1,200 new housing units on their surplus properties.

In Nashville, Amazon is committing $75 million in below-market capital for developers to create 800 new housing units on privately owned land within a half-mile of WeGo transit corridors.Transit-oriented development is a unique approach to preserving and creating affordable housing options so moderate- to low-income families can afford to live near—and benefit from—quality public transit.

When successful, transit-oriented development has a range of benefits, including greater economic activity, reduced traffic congestion and associated environmental benefits, and a strengthened, more resilient labor force.Amazon is providing developers with fast access to capital at below-market rates to expedite and create affordable homes.

Read more: Forbes »

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Amazon commits $300 million to help build 3,000 affordable housing units near public transit areas Amazon .com Inc. undefined said Wednesday it has committed $300 million to help accelerate the creation of up to 3,000 new affordable housing units across the... horrible “The Amazon projects” coming to a city near you!

Amazon Commits $300 Million To Develop Affordable Housing In Three CitiesTransit-oriented development is a unique approach to preserving and creating affordable housing options.

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